Facing the Special Problems of the Furniture Market in Hong Kong

The furniture business in Hong Kong has firmly established itself as a major player and a growing area of development in the retail sector. But like every market that is specific, it also has to deal with various problems which need creative solutions. Some of these problems are specific to the sector, while others apply to various industries as a whole. Therefore, it is crucial for furniture merchants to cope with these problems in order to survive in the fully competitive market of today.

Specific Challenges of Furniture Retailers in Hong Kong

Hong Kong furniture retailers have to contend with a number of unique challenges that are specific to their industry. The most important among these is the logistics and space issue. The dense urban environment of the city adds a layer of complexity to the storage and transport activities of heavier items such as furniture. Furthermore, a distinct inventory is hard to maintain as the preferred styles and materials by Hong Kong customers which are hard to manage inventory. Also, customization is the trend at the moment, and consumers prefer individualized items that often involve special handling and order processing.

However, furniture is not the only category affected by these issues. The increasing demand for environmental sustainability is a concern for almost every industry, including furniture, as more customers want to buy green items. Besides that, the emergence of e-commerce is a disrupter that requires the reshaping of customer experiences in the digital era. This digital transition affects customer services, inventory turnover, and sales channels in equal measure.

The Key to the Transformation of the Business is a POS System

Point-of-sale (POS) systems are the main tools used for the solutions of these challenges. By using a good POS system, furniture stores in Hong Kong can get rid of the logistical issues since they will be able to track the inventory with the sales processes in real time which in turn will improve the supply chain. This connection is vital for stock accuracy and inventory forecasting. Moreover, modern POS provides a platform for hassle-free customer experiences.

Applications such as personal promotions, real-time updates, plus loyalty programs are the features that will increase the interaction of shoppers and visitors. Because of the complexity that e-commerce creates, POS systems that include both online and offline sales can be used effectively to manage cross-channel transactions, retain a higher market share and improve customer service.

Primarily, through the provision of analytics that monitor the customer ratings of green options, POS systems resonate with the environmental friendly principles which retailers follow. Thus, a decent POS system is an instrument in helping businesses become more profitable while walking the path of the growing demand of consumers for environmental accountability.

How to Implement a Good POS System

Implementing a POS system does not only involve software installation but also requires proper planning for running it at its full capacity. As a start, merchants need to introspect their requirements before selecting a POS system that is capable of addressing their challenges.

Besides that, the training of employees is a significant aspect of the system because it is only through proper functioning that the desired outcomes would be achieved. Workers need to be given the right information on how best they can use it for better customer relations. Furthermore, continuous technical support is needed to help solve the problems briefly and ensure the system is performing effectively.

Key Features of Multiable’s aiM18 POS System

Multiable’s aiM18 POS system is enriched with features that will directly enable Hong Kong furniture retailers to overcome some of their main challenges:

1. Chain Store Management: Manufactures retail processes more effective across different locations, reducing operational costs and optimizing the customer experience.
2. Real-time Product Database Integration: Creates uniformity in the inventory data that everyone uses by the integration of e-commerce, SAP and POS platforms, thus enhancing stock accuracy.
3. Promotion Management: The system for promotion planning can be customized to different customer groups increasing the chance of selling more of the stock.
4. Automatic Courier Order Tracking: Movement of goods through the real-time tracking of the status of shipping is a significant operation of logistics that solves many issues related to big and heavy furniture.
5. Seasonal Promotion Management: Helps the business by providing the necessary targeted marketing during their off-demand periods and in turn create the right inventory supplies.

Integrated E-commerce and Payment Solutions

Owing to aiM18’s integration with the most popular platforms such as Shopify, Amazon, eBay, and others, retailers can now in a straightforward way link their online and physical shops. Furthermore, the system’s capability of multiple payment options, which includes WeChat Pay and Alipay, another way through which businesses can meet the varied consumer preferences.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.